The strategy at business level generally is the same that the corporative strategy of the organization. Table 7 classifies the thirty-two studies categorized in Table 1 (strategic formulation), taking into account the organizational characteristics and the different typology of strategies. 770779, 2012. E. H. Bowman and D. Hurry, Strategy through the option lens: an integrated view of resource investments and the incremental-choice process, The Academy of Management Review, vol. 47, no. F. R. David, The strategic planning matrix-a quantitative approach, Long Range Planning, vol. 1, pp. 6, pp. One of them is Chandler [5], who proposes that the strategy is the definition of the long-term goals and objectives of a company, the adoptions of actions, and the allocation of necessary resources for the achievement of the objectives. 8, 2012. ISO 31000 is an international standard that provides guidelines on managing any type of risk in any business activity. 342352, 2017. J. Leal, S. Lucas, and P. Magalhes, Handbook of Research on Information Management for Effective Logistics and Supply Chains, IGI Global, Hershey, PA, USA, 2016. The dynamic of system is a computer-assisted method that helps to understand the behavior of complex systems, and these techniques use tools such as diagrams of causal cycles, time delays, and stocks [214]. These strategies have two essential characteristics: they are elaborated before the actions in which they will be applied. 31, no. H. D. Mohammadian, Principles of Strategic Planning, Fachhochschule des Mittelstands, Bielefeld, Germany, 2017. 499506, 2004. The values define the set of principles, beliefs, and rules that regulate the management of the organization. Lee and Lin [163] develop a hybrid method AHP-SWOT, based on the GSM model, to evaluate the competitive position of the containers port in the east of Asia. 2, pp. 389405, 2017. 934948, 1978. The systemic approach gives the capacity to the organizations of planning and acting effectively in their environments, it is relativistic. For Kaplan and Norton [180], BSC is a system of manager management that directs attention points in the organization. Companies now focus more on exploitation of external resources such as customers, rather than internal efficiency, to gain new competitive advantages. Jamali et al. According to Hansen and Schaltegger [176], in the year 1992, BSC was presented in the Harvard Business Review, and the creators of this concept are Robert Kaplan and David Norton [177]. 15, no. The risk management process can be applied on a strategic level and organization-wide, but it can also be applied on projects, products, and processes. 5, no. 2, pp. 21, no. Thompson and Strickland [134] state that the SA model has a fundamental purpose to convert the administrative guidelines of the strategic vision and the mission of the business in indicators of specific performance, in results and consequences that the organization wants to achieve. 1, no. 86468651, 2017. N. Worren, Functional analysis of organizational designs, International Journal of Organizational Analysis, vol. 339349, 2003. In general, to create strategies, authors such as Krl and Krlov [69] suggest that all starts from the analysis of the environment surrounding the company, pretending with it the proposition of action plans, aimed at improving competitiveness. 2, pp. In this article, the systemic literature review method was used to synthesize the result of multiple investigations and scientific literature. It allows to summarize and evaluate external factors (opportunities and threats) that impact the company in a negative or positive way [140]. According to Reitzig and Maciejovsky [62], the creation of a strategy is not only a task for the executives; on the contrary, the definition of the business approaches and new measures to initiate, involve all the hierarchy levels of the organization (head of business unit, heads of products, heads of functional areas within a business or division, administrators, and supervisors). Lee and P. R. J. D. Rigby and B. Bilodeau, Management Tools and Trends 2009, Bain & Company, Boston, MA, USA, 2009. 17, no. Section 4 describes the general characteristics for the creation of the main strategies and defines the importance of the organizational structures for the definition of the strategies. However, Simons [215] argues that BSC is a hierarchic falling model that is not rooted in the organization or the environment, so it is questionable as a tool of strategic control and points out that there exists a barrier between the strategy expressed in the plan proposed by the manager and the strategy expressed in the really started actions. Johnston Thayer, director of clinical informatics and population health at Epic, describes new point-of-care tools that will take advantage of Cosmos research database 367383, 2017. The corporative strategy can be understood as the possibilities that an organization has to define its future positioning [93]. 7791, 2016. 140163, 2015. It is becoming mandatory to consider the sustainability within the strategic decision making [199]. 3, no. G. S. Dangayach and S. G. Deshmukh, Manufacturing strategy, International Journal of Operations & Production Management, vol. Hazard mitigation planning reduces loss of life and property by minimizing the impact of disasters. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements. Theorists of the strategies based on the resources as [41] state that the managers owe their strategies to competitive advantages of the organizations and the market processes, insisting on the informal learning and the personal vision [42]. 4, pp. These can be general or specific. 3, pp. The operation strategy starts from an analysis of the environment, the market and the competitors, as well as a study of the available internal resources, to fix objectives and plans of route. The axes of the matrix and the strategic action represent two internal dimensions (financial strength and competitive advantage) and two external dimensions (validation of the environment and industrial power) [153]. The strategy is a model, especially a pattern in a flow of actions. The purpose of the vision is to guide, control, and encourage the organization as a whole in order to achieve the desirable state of the organization. It maintains that while the mechanistic perspective for the formulation of strategies is discrete, directional, and differentiated, the organic perspective is dynamic, uncertain, interactive, and integrating. This strength-focused strategy maximizes own strengths and minimizes threats (maxi-mini strategy); the strategy can be chosen in rescue situations where maximizing the own strengths can be the only way to overcome substantial threats. 18, no. 12, no. 5766, 1978. FSP must be the guide to visualize what is wanted to be achieved and how the companies will achieve it. The GC is an open and service-oriented organization that delivers programs and services to citizens and businesses in simple, modern and effective ways that are optimized for digital and available anytime, anywhere and from any device. Waters, Of strategies, deliberate and emergent, Strategic Management Journal, vol. J. Galbreath, Building corporate social responsibility into strategy, European Business Review, vol. A risk management process based on ISO 31000 will enhance the reputation of an organization and give it a competitive advantage. The role of different state types and complementary institutions in constructing homogenous systems of economic coordination and control, in Proceedings of the Paper Presented to the Workshop on National Business Systems in the New Global Context, Manchester Business School, Oslo, Norway, May 2003. R. M. Cyert and J. G. March, Organizational factors in the theory of oligopoly, The Quarterly Journal of Economics, vol. K. R. Andrews, The Concept of Corporate Strategy, Irwin, Homewood, IL, USA, 1971. P. Van Veen-Dirks and M. Wijn, Strategic control: meshing critical success factors with the balanced scorecard, Long Range Planning, vol. With the aim of linking and tracking the investigations Table 2 shows the number of publications per journal, and Table 3 shows the number of publications by country and the affiliations of universities by country of each author. 10591062, 2012. M. T. Hannan and J. Freeman, Structural inertia and organizational change, American Sociological Review, vol. 11, pp. According to Freeman and Hannan [32], the organizational selection processes favor them and the organizations that can change the strategy and the structure as their environment change. Thus, it should have at least five attributes to be a business strategy [54]: (1) be measurable, (2) clarity in the objectives, (3) resource consumption, (4) assignment of responsible, and (5) that it can be checked. A. Sloan, My Years with General Motors, Reissue Edition, Crown Business, New York, NY, USA, 1990. For supply change management, the sustainability is an important issue, creating a new age of business thinking and a source of competitive advantage [67, 68]. 633645, Coimbra, Portugal, September 2017. Although sometimes defined as "an electronic version of a printed book", some e-books exist without a printed equivalent. G. Hamel and C. K. Prahalad, Competing for the Future, Harvard Business Press, Brighton, MA, USA, 1996. J. Robert Baum and S. Wally, Strategic decision speed and firm performance, Strategic Management Journal, vol. Strategy as a position: it is a means to place the organization in a competitive environment. Richard, Branding co-creation with members of online brand communities, Journal of Business Research, vol. 149154, 2013. Enhance your knowledge on risk management and create new career opportunities by participating in our ISO 31000 training courses, Get introduced to ISO 31000 and risk management guidelines, principles, and concepts, Become familiar with the fundamental concepts of risk management and obtain a thorough overview of ISO 31000 guidelines, Learn to help organizations establish a risk management framework and apply the risk management process based on ISO 31000, Obtain the necessary competencies to guide and support organizations establish a risk management framework based on ISO 31000 and other best practices and recommendations for risk management, Understand the main differences between ISO 31000:2009 and ISO 31000:2018, and develop the competencies to help organizations improve their risk management framework based on the ISO 31000:2018 recommendations. G. Genoveva and S. T. Siam, Analysis of marketing strategy and competitive advantage, International Journal of Economic Perspectives, vol. 1, pp. 4553, 2017. Much effort was put over the past decades to better understand risk and its nature, which led to the creation of methodologies and approaches that enable individuals and organizations to make accurate decisions based on logical reasoning. This paper proposes a guide through a systematic literature review, which allows administrators and researchers to know general concepts and steps that must be followed when doing SM within their industrial organizations, allowing to know their position in the market and from there, to define where they want to go in the future. 10, no. 41, no. 884932, 2001. R. S. Kaplan and D. P. Norton, The Balanced Scorecard: Translating Strategy into Action, Harvard Business Press, Boston, MA, USA, 1996. The objective of this work is to review the literature of the main concepts that lead to determining the strategic approach, creation of strategies, organizational structures, strategy formulation, and strategic evaluation as a guide for the organizational management, taking into account the effects produced by the different types of strategies on the performance of organizations. Enterprise Risk ManagementIntegrating with Strategy and Performance, to address the importance of ERM in strategic enterprise planning and performance. R. Hayes, S. Wheelwright, and K. Clark, Restoring Our Competitive Edge: Competing through Manufacturing, Free Press, New York, NY, USA, 1988. 4, pp. D. Tranfield, D. Denyer, and P. Smart, Towards a methodology for developing evidence-informed management knowledge by means of systematic review, British Journal of Management, vol. 501509, Portland, OR, USA, September 2016. 1737, 2011. 287300, 2008. The Risk Management Process] [7. 11, no. According to [184, 185], each strategic objective is assigned to one of the four performance perspectives developed for BSC:(1)Financial: measurements of create value for the shareholder, (how do we look to the shareholders?), risk management, and product profitability [186]. The coherence and the advantage are based on the external evaluation of an organization, while concordance and viability are mainly based on the internal evaluation Balanced Scorecard. These authors expose that the strategy is the result of a formal process of planning and the most important role in this corresponds to the senior manager. I. Hyvri, Roles of top management and organizational project management in the effective company strategy implementation, Procedia - Social and Behavioral Sciences, vol. Leverage real-time planning and execution details to act on negative trends faster and more effectively. According to Granovetter [36] following the approach about the social incorporation of the economic activity, the systemic vision proposes the objectives of the strategy to be designed depending on the context of the social system in which it is developed, understanding that the strategies must be sensitive to the sociologic environment of the organizations which guides the strategy are particularities of a concrete sociological environment. A. Campbell, Comments on corporate strategy and parenting theory, Michael Goold, Andrew Campbell and Marcus Alexander, long range planning, volume 31, issue 2, April 1998, pages 308314, Long Range Planning, vol. He has led numerous risk management and capital planning engagement efforts for national, regional and community organizations. W. Finlay, J. K. Martin, P. M. Roman, and T. C. Blum, Organizational structure and job satisfaction, Administration & Society, vol. Organizations performing in any industry in any place are constantly exposed to risks. 11, pp. 2, pp. Maintain that the economic development, considering the environmental and social factors, is the new concept of sustainability balanced scorecard (SBSC) [200]. Lista przydatnych komend do Counter Strike Global Offensive. 760782, 1993. Classification of investigations - strategic creation and organizational structures area. Porter [28] indicates that the process of a competitive strategy is the development of the wide formula of how a company is going to compete, which must be their objectives (mission or objective) and which policies will be needed to carry out those goals. 2, no. M. Adamson, E. K. Kelan, P. Lewis, N. Rumens, and M. Slwa, The quality of equality: thinking differently about gender inclusion in organizations, Human Resource Management International Digest, vol. 27, no. 6174, 2016. Thought, vol. 12641277, 2005. According to Malln et al. V. Ravi, R. Shankar, and M. K. Tiwari, Analyzing alternatives in reverse logistics for end-of-life computers: ANP and balanced scorecard approach, Computers & Industrial Engineering, vol. Digitally, the GC must operate as one to benefit all Canadians.. Digital services. 7, pp. 77, pp. 95, no. R. S. Kaplan and D. P. Norton, Using the balanced scorecard as a strategic management system, Harvard Business Review, vol. We will assist you throughout the entire process in order to offer you a worthwhile experience. 21, no. 4464, 1956. H. Mintzberg, Patterns in strategy formation, Management Science, vol. [151] with the purpose of determining which are the most suitable strategies for an organization in the competitive field, once the external and internal strategic positions are defined. 4, pp. Classification of investigationsstrategic approaches area. L.-T. Lu, Strategic planning for Xiaomi: smart phones, crisis, turning point, International Business Research, vol. 96107, 2008. The objective of this work is to review the literature of the main concepts that lead to determining the strategic approach, creation of strategies, organizational structures, strategy formulation, and strategic evaluation as a guide for the organizational management, taking into account the effects produced by the different types of strategies on the performance of organizations. B. Sharma and T. Fisher, Functional strategies and competitiveness: an empirical analysis using data from Australian manufacturing, Benchmarking for Quality Management and Technology, vol. These elements constitute the institutional philosophy and the support of the organizational culture [18]. J. In the last decades, a quite freely reference has been made to the concept of strategy. 3, pp. A. M. Pettigrew, The Politics of Organizational Decision-Making, Routledge, Oxon, UK, 2014. 19, no. A. Rowe, R. Mason, and K. Dickel, Strategic Management and Business Policy: A Methodological Approach, Addison-Wesley Publishing Company, Boston, MA, USA, 1982. 463485, 2016. 129154, 2016. The secondary challenge is to optimize the allocation of necessary inputs and apply them to 2, pp. A subject that acquires a lot of criticism in the system of measurement of the performance is its static nature. [15] state that strategies based on planning, ignore the fact that these can come from the interior of an organization with no formal plan. 3, pp. At directive level, this strategy is used as a mean to perform various functions, serving as support in decision making and carry out coordination processes and communication of goals or the strategic purpose. Pathway programs for entry into initial teacher education; Continuing education program endorsement; Education for those who wish to become teachers. R. E. Miles and C. C. Snow, Organizational Strategy, Structure, and Process, Stanford University Press, Stanford, CA, USA, 2003. M. Granovetter, The Sociology of Economic Life, The Perseus Books Group, Boulder, CO, USA, 2011. 43, no. 2022 Professional Evaluation and Certification Board. J. 29, no. 3, pp. Its application corresponds to the leader or director. A. Kieser and U. Koch, Bounded rationality and organizational learning based on rule changes, Management Learning, vol. 107, no. If the strategic plan is defined, the appropriate structure arises easily. M. D. Pelaez, Competitive profile matrix as a tool for evaluating strategic performance of higher education institutions, Journal of Strategy and Performance Management, vol. J.-P. D. Strategor and J.-P. Anastassopoulos, Stratgie, Structure, Dcision, Identit: Politique Gnrale Dentreprise, InterEditions, Paris, France, 1997. [147], the strategists considering the factors contained in the SWOT matrix propose the design of four strategies:(i)Strategy strength-opportunity (SO). S. Falle, R. Rauter, S. Engert, and R. Baumgartner, Sustainability management with the sustainability balanced scorecard in SMEs: findings from an Austrian case study, Sustainability, vol. Improve your short and long range strategic planning by seamlessly integrating planning and execution in to a single data model. The processes of strategic evaluation are made through the analysis of quantitative and qualitative data [169]. (4) Internal-External (IE) Matrix. H. I. Ansoff, Corporate Strategy: An Analytic Approach Tobusiness Policy for Growth and Expansion, McGraw-Hill, Arbor, MI, USA, 1965. J. Freeman and M. T. Hannan, Setting the record straight on organizational ecology: rebuttal to young, American Journal of Sociology, vol. G. Cokins, Strategic Business Management: From Planning to Performance, John Wiley & Sons, New York, NY, USA, 2017. R. Allio and M. Pennington, Corporate Planning: Techniques and Applications, Amacom, New York, NY, USA, 1979. 14, 1994. The importance of each specialization of the strategy is recognized, stating that it should be independent of the execution policies. According to Uhl and Gollenia [168], the strategic evaluation consists of measuring the impact that has had the strategic planning, opening the possibility of taking the necessary corrective actions. O. Korableva and O. Kalimullina, Strategic approach to the optimization of organization based on BSC-SWOT matrix, in IEEE International Conference on Knowledge Engineering and Applications (ICKEA), pp. 1, pp. (3) To know how and where to get the necessary information for each activity, each person must know where to get the information and it must be provided [87]. 1, pp. The real strategy that is taken as a plan is the threat not the expansion [. Financial: measurements of create value for the shareholder, (how do we look to the shareholders?), risk management, and product profitability [, Customers: measurements that reflect the impact of the strategy on customers (how do clients see us?), market segmentation, customer profitability, customer acquisition, and customer satisfaction [, Internal processes: measures of the critical organizational processes for the strategy, (what should we stand out?), profitability, distribution, and control of processes [, Innovation and learning: measures for training the organizations personnel with the necessary skills (can we continue improving and creating value?), technology, human resources, and training [. 127139, 2016. In this way, the possibility of considering measurement systems of dynamic performances arises, as an attempt of being able to make a better adjustment of the business to the environment reality. 2, pp. Each SBU will have its own distinctive mission and different competitors; this allows it to have an independent strategy from the other business of the organization. 648666, 2016. For Iazzolino and Laise [64], the strategies must be socially sustainable, creating value not only for the shareholder but also for the other interested, for the employees. Upon completion of this program, you will be able to: Help clients take steps to achieve their life goals through an integrated approach to the management of all their financial affairs, including such areas as: [166] use QSPM two strategies of alternative commercialization. Dalsze korzystanie ze strony oznacza, e zgadzasz si na ich uycie. N. Hamid, Use balanced scorecard for measuring competitive advantage of infrastructure assets of state-owned ports in Indonesia, Journal of Management Development, vol. The real strategy that is taken as a plan is the threat not the expansion [132]. P. M. Hirsch, R. Friedman, and M. P. Koza, Collaboration or paradigm shift? K.-l. Lee and S.-c. Lin, A fuzzy quantified SWOT procedure for environmental evaluation of an international distribution center, Information Sciences, vol. Global objectives indicate the results that are wanted to be achieved in a specific period of time. Moreover, to announce the way in which the business units develops or deploys the production resources [120]. Bus. 1, pp. 29, no. A. Ziari, Strategic management in urban environment using SWOT and QSPM model, Global Journal of Environmental Science and Management, vol. It is composed of an evaluation of the internal competences as strengths and weaknesses and the externals competences as opportunities and threats [145, 146]. According to Christensen et al. Chen, What is strategic management, really? 11, pp. According to Sharma and Fisher [107], the main types of functional strategies are: production strategies [108], I+D strategies [109], marketing strategies [110], human resources strategies [111, 112], technological strategies [113], organizational strategies [114], and financial strategies [115]. [142] propose EFE with the objective of evaluating the spin-off of a company that dedicates to the biotechnological products in Malaysia, obtaining as result that the company has more strengths than weaknesses (EFE>2.5). Any company, regardless of the size, kind of industry, business segment, or country where its activities are developed, must have a process that allows the disposition of a methodology to formulate strategies. It allows to know how to establish the specific directions of the organization; a definition that covers the behavior we want to produce is required. M. D. Gracia and L. E. Quezada, A framework for strategy formulation in sustainable supply chains: a case study in the electric industry, NETNOMICS: Economic Research and Electronic Networking, vol. An ISO 31000 certification demonstrates that you have the necessary competencies to support an organization in creating and protecting value. C. Vencato, C. Gomes, F. Scherer, J. Kneipp, and R. Bichueti, Strategic sustainability management and export performance, Management of Environmental Quality An International Journal, vol. 4, pp. 230, pp. 481510, 1985. 5, pp. The main thing is to detect if there is or not a strategic problem or also called strategic GAP. J. Keyes, Implementing the IT Balanced Scorecard: Aligning IT with Corporate Strategy, Taylor & Francis Group, New York, NY, USA, 2016. Examples of that are the competitive priorities, which are translated from the operative decisions derived from the corporative strategies and the client requirements [95]. 12531259, 2010. The techniques for formulating strategies can be integrated into a three-stage framework for decision making. 1, pp. ISO 31000 is applicable to organizations of all types and sizes who seek to integrate risk management into business functions. R. Rumelt, Good strategy/bad strategy: the difference and why it matters, Strategic Direction, vol. 60, no. Inductive derivation of a consensus definition of the field, Strategic Management Journal, vol. P. Mao, S. Li, K. Ye, and H. Cai, A field theory based model for identifying the effect of organizational structure on the formation of organizational culture in construction projects, KSCE Journal of Civil Engineering, vol. 10, pp. 1, pp. [73], the application of this concept allows to analyze the relation between the degree of organization structure, performance of the organization, and the learning capacity of the organization. The evolutionary approach raises the inability to generate strategies from inside; according to [30, 31], this approach proposes that the organizations are drifting of the changes of the external environment and depends on the magnitude of it, that is the market which defines the strategy, being this in charge of guaranteeing the minimal or maximum benefits. C. Christensen, N. Berg, and M. Salter, Policy Formulation and Administration: A Casebook of Senior Management Problems in Business, Irwin, Homewood, IL, USA, 1980. Customers: measurements of create value for the future, Harvard Business Press, Brighton, MA USA Risks that could hinder the achievement of Business Ethics, vol m. and. Pattern in a diversified industry or of one Business Strickland, Administracin Estratgica, McGraw-Hill, Nueva,! Development: Japanese and Korean marketing perspectives, industrial marketing Management, vol address the importance ERM Develops or deploys the Production strategy divided into four sections power and D. f. Larcker, Coming up on! Property by minimizing integrating risk management into strategic planning impact of the organizations created the structures to the. 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